New Silk Road Investment Appoints Northern Trust to Provide Outsourced Trading Solutions
2024年5月8日 - 10:00AM
ビジネスワイヤ(英語)
Northern Trust (Nasdaq: NTRS) today announced that it has been
selected to provide outsourced trading via its Integrated Trading
Solutions (ITS) for New Silk Road Investment Pte Ltd., a
Singapore-based investment manager.
Founded in 2009, New Silk Road invests in Asian companies with
the goal to achieve long-term returns. In addition to the new remit
for trading services, Northern Trust continues to provide global
custody services for New Silk Road funds which it has done since
2011.
“New Silk Road came to us looking for a solution to help
navigate cross-border trading challenges amidst a changing market
structure in North America,” said Yen Leng Ong, Country Executive,
Southeast Asia, Northern Trust. “By enabling our client-centric
solution approach, we determined that our ITS offering was the
right fit to provide seamless integrated middle to back-office
processing along with efficient trade execution. We look forward to
continuing to build our relationship with New Silk Road to enhance
their global trading needs.”
The transition to shortened settlement in the U.S., Mexico, and
Canada on May 28 from trade date +2 (T+2) to trade date +1 (T+1)
will present challenges for Asia-based asset managers who are
heavily impacted due to time zone differences. Many managers have
sought ways to smooth out that transition by outsourcing their
trading functions.
“T+1 introduces significant market timing challenges to
investors and managers in Singapore and New Silk Road has a strong
understanding of the issues involved in this change,” said Gerard
Walsh, Global Head of Client Solutions, Banking and Markets,
Northern Trust. “Northern Trust is very pleased to be working with
New Silk Road to ensure their US dollar execution, trade matching,
clearing, settlement process, and trade-related foreign exchange
are managed as a single lifecycle.”
Northern Trust’s outsourced trading capability combines
worldwide trading expertise in equities and fixed income, exchange
traded derivatives, futures and exchange traded funds (ETFs) across
global markets. It provides coverage from multiple trading
locations, access to high-quality liquidity and fully integrated
middle and back-office service. The ITS platform helps asset owners
and asset managers to meaningfully lower costs, reduce risk, manage
regulatory compliance and enhance transparency and operational
efficiency.
ITS is offered through Institutional Brokerage, a part of
Northern Trust Banking and Markets which also provides foreign
exchange, securities lending and transition management
services.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240507910716/en/
Media Contacts
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
http://www.northerntrust.com
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